The most affluent section of Newton, itself the wealthiest city, as opposed to town, in Massachusetts. Waban is characterized by large, tudor houses, a small shopping district of "upscale" mom-and-pop retailers, and an MBTA Green Line stop to whisk commuters to jobs in Brookline and Boston.

It has been cheekingly said that Waban has the highest per-capita number of Volvos outside of Scandinavia!

Waban is relatively close to the interchange of Route 128/I-95 and I-90 Mass Pike.

Waban's Zip Code, 02468, is one of the most "desirable" within Route 128. US Census data from 2000 shows that more than twice as many residents over 25 hold graduate degrees than bachelor's degrees (as the highest educational attainment). Residents who hold "only" a high school diploma are about 1/5 of those who have bachelor's degrees and 1/10 of those who have a master's degree or higher.

Waban is NOT to be confused with Woburn, a middle-class city about 10 miles to the north-east.

While an unincorporated neighborhood of Newton, Waban is sometimes considered a W Town, along with Wellesley, Weston, and Wayland, due to socio-economic similarities. Waban is located just across the Charles River from Wellesley.